Dec. 24 at 1:35 PM
Autonomous vehicles could transform transportation faster than expected. Morgan Stanley projects that by 2050, 98% of cars sold globally could be autonomous, with at least 100 million AV-capable vehicles on U.S. roads.
Waymo currently leads the robotaxi market with about 2,500 vehicles operating in five cities, while Tesla plans to launch a fully autonomous ride-hailing service in Austin. Other companies are testing similar models through partnerships and pilot programs.
Robotaxis promise higher efficiency, as private cars are used only about 5% of the time. Increasing utilization could sharply reduce the number of cars on the road, easing congestion, cutting emissions, and freeing up parking space. Safety is another key claim, with companies reporting fewer serious crashes than human-driven vehicles, though regulators continue to investigate incidents.
Beyond transport, robotaxis could give riders back their time, expand mobility for non-drivers.
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